Texas Daily Ag Market News Summary 4/15/15

Posted 9 years 227 days ago by

Feeder cattle $4 lower to $4 higher; futures higher.

- Fed cattle cash trade reporting after no reportable trade for several days; formula trades higher; futures higher; beef prices higher.
- Cotton lower.
- Grains and soybeans mixed.
- Crude oil higher; natural gas higher.
Stock markets higher.

Texas feeder cattle auctions quoted prices $4 lower to $4 higher. Feeder cattle futures were higher, showing gains after two days of losses. The Texas fed cattle cash trade reported sales of 162.51 on Tuesday. Wholesale boxed beef values were higher, with Choice grade up to $258.45 per hundredweight (cwt) and Select grade up to $249.42 per cwt. Estimated cattle harvest to date this week totaled 220,000 head, up 14,000 from last week, but down 10,000 from a year ago. Year-to-date harvest is down 4.3%. Fed cattle futures were higher, benefitting from increased demand.

Cotton prices were lower on Tuesday with cash falling 0.50 cents and futures 0.44 cents to settle at 61.63 cents per pound and 64.69 cents per pound, respectively.

Corn and grain sorghum prices were higher with corn cash and futures prices $0.03 and $0.04 higher, respectively. Grain sorghum prices closed $0.02 higher at $7.12 per cwt. Soybean prices were $2.11 higher despite large global supplies.

Wheat cash and futures prices were each $0.07 lower, settling at $4.85 and $5.22 per bushel, respectively. Prices are seeing downward movement as some areas in the U.S. approach wheat harvest season.

Stock markets closed higher yesterday, with increased trade activity and reports of first-quarter declines in U.S. industrial output. Crude oil prices rose $1.380 to settle at $53.29 per barrel, marking four straight sessions of gains.

Daily Market Summary Data for 4/15/2015

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